The White House warned on Thursday that the budget battle could lead to another US government shut down. Rival lawmakers have time until October 1 to reach a deal.

"If Republican leaders maintain their insistence on trying to pass a budget along party lines, then we are going to be headed for a shut down," White House spokesman Josh Earnest said. Any shutdown could lead to an economic and financial turmoil on markets.

The last government shutdown happened in October 2013. The U.S. economy lost an estimated $24 billion during the last shutdown.